"Wallstreet" Reader

"Wallstreet" Reader


RBS, Lloyds Start Touting U.K.'s Shares

Posted: 10 Jan 2011 06:53 PM PST

Eager to throw off the yoke of government ownership, Royal Bank of Scotland and Lloyds Banking Group have been quietly moving to stir investor interest in U.K. government holdings of their stocks.

Car Makers Roll Again

Posted: 10 Jan 2011 04:42 PM PST

Ford set the Detroit auto show abuzz on its opening day, as the company disclosed plans to hire 7,000 workers in the U.S. this year.

GM Again Sees Need for GMAC

Posted: 10 Jan 2011 04:40 PM PST

General Motors is revisiting the idea of buying back part of its former GMAC auto loan business, half a year after it acquired a subprime loan company to help fill the role of an in-house lender, according to three people familiar with the situation.

FDA Reviews Proposed Pancreatic-Enzyme Drug

Posted: 10 Jan 2011 03:22 PM PST

The FDA questioned whether a new type of a pancreatic-enzyme replacement product, developed by Alnara Pharmaceuticals, is as effective as products now on the market.

Industry Eyes Bank as Prop For Money Funds

Posted: 10 Jan 2011 06:21 PM PST

The mutual-fund industry presented a plan to backstop money-market funds, acknowledging that the funds could pose major risks during a market panic even though they aim to keep their values steady.

Alcoa Shines as Aluminum Prices Rise

Posted: 10 Jan 2011 05:59 PM PST

Alcoa returned to a profit in the fourth quarter as the economic recovery boosted demand for aluminum, and prices for the metal are expected to continue to climb this year.

BlackRock Raises Stake in Tyson

Posted: 10 Jan 2011 12:24 PM PST

New York investment group BlackRock Inc. has increased its stake in meat giant Tyson Foods Inc. to 12.98% of its Class A shares, double what it was in early December.

Duke Merger Benefits for Ratepayers Slow to Appear

Posted: 10 Jan 2011 04:38 PM PST

Ratepayers might be slow to see benefits from Duke Energy's proposed $13.7 billion purchase of Progress Energy, a deal that would create the nation's largest utility.

Goldman Opens Up to Mollify Its Critics

Posted: 10 Jan 2011 06:57 PM PST

Goldman Sachs, seeking to beat back criticism that it abused its muscle and trading savvy to put its own interests ahead of clients, agreed to release details on how and where the Wall Street giant makes its money.

AMD Chief Resigns

Posted: 10 Jan 2011 04:29 PM PST

AMD said CEO Dirk Meyer resigned effective Monday even as it also projected fourth-quarter revenue slightly ahead of estimates. Chief Financial Officer Thomas Seifert will fill in as interim CEO.

Sbarro Hires Bankruptcy Lawyers

Posted: 10 Jan 2011 04:16 PM PST

Fast-food eatery Sbarro hired bankruptcy and restructuring lawyers after defaulting on debt, though it won't necessarily have to file for Chapter 11 protection.

Intel to Pay Nvidia $1.5 Billion

Posted: 10 Jan 2011 05:56 PM PST

Intel agreed to pay Nvidia $1.5 billion over five years to settle litigation between the two companies, as part of a patent-licensing deal that rewards Nvidia for its technology but gives the smaller company no rights to Intel's technical crown jewels.

Floods Lift U.S. Coal Demand

Posted: 10 Jan 2011 04:51 PM PST

U.S. coal companies are rushing to fill the vacuum left by flooding in Australia that disrupted mining and sent buyers scrambling for new suppliers.

DeLay Is Sentenced to 3 Years in Prison

Posted: 10 Jan 2011 02:35 PM PST

Former U.S. House Majority Leader Tom DeLay was sentenced Monday in state court to three years in prison for conspiracy to commit money laundering.

American Air Strikes Back at Sabre

Posted: 10 Jan 2011 05:54 PM PST

American Airlines secured a court injunction against Sabre Holdings, an airline-ticket middleman, after Sabre made American Air tickets less prominent in its system.

Another Microsoft Executive to Leave

Posted: 10 Jan 2011 08:02 PM PST

Robert Muglia, the president of Microsoft's server and tools business, will leave the company this summer after CEO Steve Ballmer decided to seek a new leader for the unit.

Feds Depict Deliberate Plot

Posted: 10 Jan 2011 07:08 PM PST

Federal prosecutors are assembling a case against suspected killer Jared Lee Loughner that portrays him as a man with psychological problems who was nonetheless competent enough to plot an assassination.

China, U.K. Sign Deals Worth $4 Billion

Posted: 10 Jan 2011 11:56 AM PST

U.K. and Chinese companies signed $4 billion worth of deals in the energy and automotive sectors, the British government said.

SEC Sues Four in Insider Probe

Posted: 10 Jan 2011 03:40 PM PST

The co-founder of hedge fund Trivium Capital Management, a former senior executive at Polycom and two others have been charged with insider trading by the Securities and Exchange Commission.

Alaskan Oil Could Flow Soon

Posted: 10 Jan 2011 03:53 PM PST

The Trans-Alaska Pipeline, shut on Saturday due to an oil leak in a pipeline at a North Slope pumping station, will likely restart before Friday. Crude oil prices spiked in early New York trading then pulled back as the risk of a prolonged shutdown lessened.